On May 8, the National Development and Reform Commission of the People's Republic of China issued Decree No. 18, "Measures for the Regulation of Electricity Markets" has been considered and adopted at the 10th Commission Meeting on April 8, 2024, and is hereby promulgated and shall come into force on June 1, 2024....
The Measures propose that the main body of power trading includes power generation enterprises, power sales enterprises, power users, energy storage enterprises, virtual power plants, load aggregators, etc. participating in power market transactions. Grid enterprises in accordance with the relevant provisions of the State for the time being not directly involved in the power market transactions of the user to implement the agency power purchase, can be regarded as the main body of power trading.
The Electricity Regulator regulates the following for members of the electricity market:
(i) Fulfillment of the obligations for the security of the electricity system;
(ii) Entry and exit from the electricity market;
(iii) Qualifications for participation in electricity market transactions;
(iv) Implementation of the rules governing the operation of the electricity market;
(v) Conduct of transactions and settlement of electricity bills;
(vi) Disclosure of information;
(vii) Implementation of national and industry standards;
(viii) Balancing the management of funds and the use of funds.
Electricity regulators also regulate unfair competition, collusive offers and other trading violations in the trading behavior of power sellers, power users, energy storage companies, virtual power plants, load aggregators and other participants in the wholesale electricity market.
Disputes arising from power market transactions between power trading entities, between power trading entities and power market operators shall be coordinated by the power regulator in accordance with the law.
Among them, disputes arising from the fulfillment of the contract can be mediated by the power regulator in accordance with the relevant provisions on mediation of power disputes.
The scheme is effective from June 1, 2024 onwards.
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